Home Industry Energy 4 charts show UAE petrol price changes in 2023 Data indicates that fuel prices in the UAE rose steadily during the summer months but that they have tailed back slightly towards the end of 2023 by Gareth van Zyl December 29, 2023 Credit: Getty Images UPDATE: The UAE has cut fuel prices across the board for the month of January. Read more here:UAE slashes petrol, diesel prices for January 2024 In coming days, the UAE fuel price committee is set to announce the petrol and diesel rates for the month of January 2024. The Emirates’ fuel prices are traditionally updated on the last day of each month, and it’s unclear, at this stage, as to whether prices will continue to be reduced or not. READ MORE: UAE to announce petrol, diesel prices for January; will rates drop in 2024? In addition, the recent attacks on vessels in the Red Sea has thrown global oil markets into a tailspin, with it being unclear as to whether the situation in those waterways will improve or not. Earlier this week, global oil prices jumped 2 per cent on concerns over the risks in that part of the world. READ MORE: Oil jumps over 2% amid further Red Sea attacks Inflation, across the globe, is starting to fall, and economists are expecting the US Federal Reserve to cut interest rates next year, which will result in the UAE following suit. Residents in the Emirates, therefore, will be hoping for a fuel price reprieve to start 2024 on a good note. While we wait for the announcement, these four charts show how fuel prices have fared in the UAE during the year 2023. Infographic by Gulf Business. Data Source: UAE Fuel Price Committee Infographic by Gulf Business. Data Source: UAE Fuel Price Committee Infographic by Gulf Business. Data Source: UAE Fuel Price Committee Infographic by Gulf Business. Data Source: UAE Fuel Price Committee
